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CNN Saturday Morning News
West Point Graduation Ceremony with General Richard Myers; Atlanta Suspect Retrieved from Crane After 57-hour Standoff; Housing Market Analysis
Aired May 28, 2005 - 09:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
RANDI KAYE, CNN ANCHOR: In central Indonesia, at least 20 people were killed by a pair of bombs at a crowded market in a mostly Christian town. More than 50 were wounded. Witnesses say the second, more powerful, blast went off after rescuers arrived to help victims of the first explosion.
Early this morning, Atlanta police successfully subdued a murder suspect after two days atop a construction crane. Carl Roland is wanted for the killing of his ex-girlfriend. We'll have a live report on his arrest in just a few minutes.
And, in London, time marches on -- not. The clock in London's famous landmark tower stopped last night for about 90 minutes and then started up again. The clock's engineers are mystified why the 147- year-old timepiece just died and then sprang back to life.
TONY HARRIS, CNN ANCHOR: Change the battery or something?
KAYE: I guess so.
HARRIS: OK, here's what's coming up this hour.
They've learned about war in the classroom; now, many West Point grads may be on the frontlines. We'll have a live report straight ahead.
And, insurgents cause chaos and carnage in Iraq. We'll bring you the latest.
To some, it is a dream. To others, a house of horrors -- a live report on the fluctuating housing market, all coming up.
KAYE: Up first this hour, it's Memorial Day weekend, and while most of us will enjoy time with friends and family, others are taking time out to remember those who died while protecting their country. At Arlington National Cemetery, flags are placed at the graves of the war heroes buried there.
HARRIS: At this hour, graduation ceremonies are underway for the class of 2005 at West Point, the nation's oldest military academy. Many of the troops being commissioned (ph) today will probably face combat soon, either in Iraq or Afghanistan. CNN's Alina Cho is at West Point with more on what's ahead for the cadets. Alina, good morning. ALINA CHO, CORRESPONDENT: Tony, good morning to you, and the highlight of today's ceremony will be a keynote speech by General Richard Myers. He is the chairman of the joint chiefs of staff, of course. He is the principal military adviser to the president.
Today, there are 911 graduates, and upon receiving their diploma, they will each immediately become second lieutenants in the Army. Now, this class of 2005 is important because they began their West Point career just days after 9/11. They had two years to decide whether they wanted to quit West Point, and amazingly, an overwhelming majority -- 77 percent of them -- decided to stay. Now, it wasn't an easy decision. Seven out of 10 of the graduates will likely be deployed to either Iraq or Afghanistan within a year. Twenty-three West Point grads have died since 9/11, and many of the cadets in the past four years have learned a lot about how to make quick decisions in combat.
Today, however, is a day of celebration, as you hear the applause in the background. The cadets behind me are wearing full dress over white, and Tony, many of them have jokingly said that combat will be easier than four years at West Point.
HARRIS: Wow, now, that's a statement. They look great today. Alina, we appreciate it. Thank you.
And, time right now to check out some of the other stories making news "Around the World."
KAYE: There have been twin bombings in Indonesia. For the details on that and some of the other big world news story, let's hand it over to Anand Naidoo at the CNN international desk. Good morning.
ANAND NAIDOO, CNN INTERNATIONAL DESK: Hey, good morning, and thank you. We'll have more on Indonesia later, but first up, the latest on Schapelle Corby. She's the Australian woman sentenced to 20 years in prison for drug smuggling in Indonesia. Indonesia's justice minister will meet with Corby's legal team. They say she was set up by professional smugglers. Intense efforts under way in Australia to get her back. Even the Australian government is getting her involved in this. There is -- one option they're looking at is for Corby to serve her sentence in Australia itself.
Staying with Indonesia, at least 20 people were killed and 57 wounded in a double bombing in an eastern town. The second bomb, the larger of the two, exploded as people rushed to help victims. Hundreds of people have been killed in this particular area in fighting between Christians and Muslims. That fighting there broke out in 1998.
Now Iraq, 16 people killed in three bombings. Back-to-back car blasts in Tikrit killed nine people, and explosions outside an Iraqi- U.S. base near the Syrian border killed seven people. The Iraqi government, meanwhile, has confirmed a Japanese hostage has been killed by his captors. He was in a group ambushed by insurgents west of Baghdad earlier this month. More than 120 foreigners have been held hostage, kidnapped and held hostage, in Iraq since the U.S.-led occupation of that country in 2003. More than 35 of them have been killed, and right now there are 20 of them who are still being held by their captors and among those 20, at least two Americans. That's all for me for now. Back to Randi and Tony.
HARRIS: Anand, thank you.
KAYE: Back on the ground and finally in custody, just after midnight. Atlanta police tasered and subdued a murder suspect who'd spent more than two days perched high atop a construction crane. Let's go right to the scene and Catherine Callaway.
CATHERINE CALLAWAY, CORRESPONDENT: Good morning, Randi.
Yes, Peachtree (ph) Street here in Buckhead is back open to traffic after being virtually shut down for some 57 hours. About 12:30 Eastern time this morning, 41-year-old Carl Roland agreed to accept some water from the chief negotiator on top of that crane. At that time, as you said, he was tackled. He was then tasered once by the S.W.A.T. team, but it was a very long process getting him to the ground after he was subdued. He was wrapped in blankets. He was strapped to a backboard, and then he was hoisted vertically down 350 feet to the bottom. It was, as I said, a long process. A lot of officers stuck inside that crane making sure he made it down safely, and he did.
He was then taken to Grady Hospital, where he was treated and is still being treated, as far as we know, for dehydration and exhaustion. He will then be transferred to the Fulton County jail, where he will be held because Pinellas County authorities are interested in him in connection with the murder of his ex-girlfriend, 36-year-old Jennifer Gonzalez. Gonzalez was found beaten and strangled to death, floating in a retention pond behind her home in Pinellas County, Florida.
Authorities expecting to extradite him back to Florida. They are in Atlanta at this time, and Atlanta authorities are looking at the possibility of lodging some charges against Carl Roland. At this point, they're not saying what those charges will be. Back to you.
KAYE: All right. Catherine Callaway, thank you for the live report.
HARRIS: Real estate is on the rise, but some are worried the housing bubble just might burst. How to protect yourself, that is coming up.
KAYE: Plus, our e-mail question this morning. Is real estate a good investment right now? Send us your thoughts to weekends@CNN.com.
HARRIS: And good morning, Philadelphia. Rob Marciano is just ahead with your Memorial Day forecast. Stay with us. More CNN SATURDAY MORNING when we come right back.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: Lawrence Douglas Wilder has earned a reputation exploring uncharted territory politically, as well as racially. He graduated from the private all-black Virginia Union University after being turned away from all white schools in his native Virginia.
Doug Wilder went on to become a celebrated criminal lawyer, state senator, lieutenant governor, and in 1990, the first black governor ever elected in the U.S.
DOUGLAS WILDER: The people of Virginia have spoken tonight!
UNIDENTIFIED FEMALE: To demonstrate distaste for the state's history of slavery, Wilder chose to take the oath of office outside Virginia's capitol, a building that had served as the Confederate capital during the civil war.
Now, at 74, he's beginning a new phase of public service. Last November, following a historic change in the city charter, he became the first mayor elected by the people rather than the council, in his hometown Richmond.
WILDER: What is it that we are to do, and who are you there for? You're there to represent the people.
UNIDENTIFIED FEMALE: Today, Mayor Doug Wilder is a common sight on the streets of Richmond, and Virginia Commonwealth University, where he teaches political science.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
KAYE: In a market where housing is booming and mortgage rates are low, a million-dollar dream home could become a reality.
UNIDENTIFIED MALE: Beautiful granite countertops and as you can see, gourmet Wolf range with hood.
KAYE: So, what does a million bucks buy? Found out tomorrow at 7:00 a.m. Eastern on CNN "SUNDAY MORNING."
UNIDENTIFIED MALE: Brigadier General Mike Scaparotti (ph), commandant of the corps of cadets. Brigadier General Dan Kaufman (ph), dean of the academic board. Ladies and gentlemen...
(COMMERCIAL BREAK)
HARRIS: Throughout the weekend, CNN peers into the so-called housing bubble. That's when a red-hot housing market like we're currently seeing can eventually see a dramatic drop in demand and value. CNN personal finance editor Gerri Willis has her top five trips of knowing when to buy, sell action or sit on the sidelines. Gerri, we need to do good work so folks know where they are in this particular cycle that we're in, OK? GERRI WILLIS, CNN PERSONAL FINANCE EDITOR: That's right, Tony. You betcha.
HARRIS: All right, so, sitting on the sidelines? Maybe that's the place to start. You say one of your tips is to stay put? Explain that, Gerri.
WILLIS: Well, listen to this. If you already own your own home...
HARRIS: Yes?
WILLIS: ...and you're fearful that prices are going to go down, or maybe you're in one of the few markets where prices actually have come down, here's what you need to do: stay put. Here's why. Prices typically don't go down for a very long period of time. You can ride out any downturn, and then prices will begin to rise again.
Look, houses don't reprice like stocks every 30 minutes. They price very slowly, and what's more likely to happen in your market than an actual downturn in prices, is that the market just slows down. Prices don't change at all. You have no appreciation. That's more likely. So, if you're in your house now, you're best off just staying put.
HARRIS: OK, smart, smart. You also advise, don't overpay, and that makes good sense.
WILLIS: Yes, you bet. If you're trying to buy a house right now, you have got to pay particular attention to what the pros call comps, that is, comparables, homes that have sold in the neighborhood that you're looking in. Take a look at the price per square foot. Now, compare that to the price per square foot you'd be paying in this new house and make sure you're not overpaying in terms of the houses that are selling right now. You've got to do the math, and your realtor can help you do that. That's what you're paying them for.
HARRIS: OK. Beware of risky mortgages.
WILLIS: Tony, I'm telling you, there is so much innovation in the mortgage business right now, and some of these products, not my favorites, I've got to say. The interest-only mortgage. This gives you the option of paying only interest, not your principal. So, you're just paying that money you're paying to the bank without reducing what you actually owe for the house itself, without developing equity. Now, if prices were to decline and you had never paid down any equity, you could end up owing more than the house is worth in a big way, and that's not a good situation to be in. So, I say stay away from those interest only mortgages right now.
HARRIS: Yes, and a lot of people enter those kind of deals if they're looking to flip the house to resell it right away. Is that why they enter those kind of deals in a lot of cases?
WILLIS: You know, that can happen, but in a market that might slow down, flipping can be a tough strategy because you can't predict what it's going to look like in the three-to-six months it takes you to turn that house around.
HARRIS: Gerri, evaluate correctly.
WILLIS: That's right. You know, you've got to do the math again. What I'm talking about here is looking at days-on-market. That's what the pros call it. How long does it take to sell a house? So, if it typically takes a month to sell a house and suddenly you see that number double, this could be a sign that the market's getting into some trouble. So, that's a little benchmark or rule of thumb if you're trying to figure out what's going on.
HARRIS: And Gerri, your final tip here is get the context.
WILLIS: Yes, baby. You know, nobody ever talks about bubbles bursting, what's happened in the past. We all talk about, you know, just the fear factor, what if prices go down? Well, let's look at one of those markets where prices actually went down, in Boston. We're looking at the middle of the '80s. Prices went up 157 percent, as you can see right here. That was the boom. Now, the bust? Down 15 percent in just three years.
So, as you can see, the boom went on for a really long time, the bust very short and not as intense. So, if you're holding on to your house for any period of time at all, it probably didn't make a lot of difference to you. You probably had gains anyway.
HARRIS: Yes, good stuff, Gerri.
All right, give us a couple lines. Preview the big "OPEN HOUSE" show coming up at the top of the hour.
WILLIS: Yes, you've got to watch. We're talking about this whole boom/bust cycle. What can you expect? What do you want to know? We've got a couple of experts on talking about their outlooks. You want to pay attention to that, and then, Tony, container gardening. You've got to see this just beautiful story we're telling with Allen Smith, who's a gardening expert. You'll love it. The pictures are beautiful.
HARRIS: Wonderful, wonderful.
WILLIS: And maybe you can do a container garden.
HARRIS: Oh, please, now you go too far. Gerri, good to see you. We'll see you at the bottom of the hour with "OPEN HOUSE."
WILLIS: Thank you, Tony.
HARRIS: Appreciate it. Thanks for your time. Randi?
KAYE: Thanks for watching CNN SATURDAY MORNING. I'm Randi Kaye. Time to check our "Top Stories" this morning.
A tragic end to a hostage standoff in Iraq. Iraqi and Japanese officials believe insurgents have killed a Japanese man they abducted earlier this month. The man worked for a British security company. In northwestern Iraq this morning, a deadly bombing attack outside a joint U.S.-Iraqi military base in the town of Sinjar. At least 7 Iraqis are dead, and 35 others are wounded.
And, back in the U.S., a 57-hour standoff 25 stories in the air is over. Early this morning, Atlanta police captured a man who spent the past two-and-a-half days perched on top of a crane. Carl Roland is wanted in Florida in his ex-girlfriend's beating death.
HARRIS: CNN.com is always a lively spot to get your fill of the day's news. Veronica de la Cruz of the dotcom desk is here to tell us what's attracting the most interest this morning. Good to see you, Veronica.
VERONICA DE LA CRUZ, CORRESPONDENT: You again?
HARRIS: It's me all day.
CRUZ: I'm totally kidding, Tony.
All right, let's get to the most popular stories, shall we? Well, to find them, go to our main page and click on the icon most popular. That's on the right hand side of your screen. Also, you can type in CNN.com/mostpopular, and that list is updated every 20 minutes.
So, what are the hottest stories on the web right now? A judge has ordered a Tennessee senator to be placed on house arrest even after objections from prosecutors that he serve time in jail. This, after they watched a video of Senator John Ford accepting a $10,000 payoff and listening to an audiotape in which he threatened to kill a witness, Tony.
Also hot on CNN.com, do you ever visit a search engine online and get frustrated because all you get are these web links in return? Well, AskJeeves is trying to fix all that with a new service called web answer. Along with those links to other sites, they will also provide the answer to your search question. So, for example, if you are asking, what is the world's largest lake? They would give you the answer, Caspian Sea, along with the size and location, because all you do get are links to other sites, and people want the answer.
HARRIS: Yes, that's right. You want the answer. You don't want to be moved on, moved on down the road. OK, good to see you, Veronica.
CRUZ: Nice to see you.
HARRIS: Thank you.
We're going to take a break and come back with more of CNN SATURDAY MORNING. You're taking a live look at the skyline of Philadelphia. Rob Marciano, back in just a couple of minutes with the Memorial Day forecast for Philadelphia and the rest of the nation. We'll be right back.
(COMMERCIAL BREAK)
HARRIS: Commencement exercises under way at West Point in New York. You're listening now and seeing pictures there of the chairman of the joint chiefs, Richard Myers. Let's listen in.
GEN. RICHARD MYERS, CHMN, JOINT CHIEFS: As you know, one of those graduates, your dean, General Dan Kaufman, will retire this summer after 37 years of service. From the jungles of Vietnam to the National Security Council staff to presidential transition teams and 22 years at West Point, Dan, you symbolize the ideals embodied in this academy, and we thank you very, very much for your great service.
To all the parents, I know this is a very proud day. Four years ago, you dropped off your sons and daughters, and you were so proud, as you should have been, of these up-and-coming standouts, full of hope and full of promise. So today, the process is complete, and I think they stand a little taller with the confidence and pride that can only come after completing a demanding journey. Their success was due in no small part to the values they learned at home and the support you provided during these past four years. So, just the graduates, if you'd join me in a round of applause for your friends and family who have done so much to make this day possible.
To the staff and faculty who have played the important role of training and educating and mentoring and supporting the graduates, this day obviously wouldn't have been possible without your truly dedicated efforts. I know many of you have returned from Iraq and Afghanistan and shared your experiences in both training and in the classroom, and we see the results of your efforts here before us. You have done your job well, and the nation thanks you, also.
To the international graduates -- cadets who graduate today, we value your friendship. We look forward to serving with you in the future, and we wish you continued success as you return to serve your nations. Keeping...
(APPLAUSE)
MYERS: Thank you. That's appropriate.
Keeping freedom alive. You know, we actually have a lot in common. After 40 years in uniform, I'm about to begin a new adventure in my life, and you're about to begin a new career. But I got to tell you, during my tenure at the Pentagon, we designed and built a new fitness center, and it's open. I understand that's not quite the case for you all.
Actually, our common bond runs much deeper, and it's the tragic events of 9/11 that unite -- unite us. My term as chairman began just a few short weeks after 9/11, and, of course, you were just a few short weeks into your first academic year. I bet you can still remember that day for lots of reasons, not only 9/11 but wondering where all those upperclassmen came from all of a sudden. And I'm sure those events shaped every day of your past four years and gave you a clear sense of purpose and a heightened sense of resolve -- 9/11, in fact, changed the entire world, and we are now in a struggle against violent extremism who want to end our way of life.
This war we're engaged in is actually about two opposite and incompatible visions for the world -- tolerance, democracy, freedom, justice, and hope on the one hand, versus intolerance, repression, violence, and fear on the other. Our nation is at war, and I know this has been brought home to you, as on many days you've heard announcements of the fallen or injured of past West Point classes who were bravely doing their duty. They faced an enemy who seeks to destroy our society, an enemy that has no tolerance for individual freedoms or the free expression of ideas. They view their -- the values that we represent as a threat and their weapon of choice is fear. They know absolutely no limits, be they territorial or moral. So, that's why failure is not an option and we will not fail.
HARRIS: Chairman of the Joint Chiefs Richard Myers, the commencement day speaker at West Point in New York. Many of the cadets, 900 in all, will probably face combat in short time here, in either Afghanistan or Iraq. Once again, Chairman of the Joint Chiefs Richard Myers at West Point, commencement day speaker there, talking about the nation at war, fighting an enemy that the chairman describes as intolerant. We'll be back with more after this quick break.
(COMMERCIAL BREAK)
HARRIS: To New York City now. When you squeeze those letters, to New York, it's Tony.
KEN DOLAN, CO-HOST "DOLANS UNSCRIPTED": Oh, man. Oh, boy. That's just lame, Tony.
DARIA DOLAN, CO-HOST, "DOLANS UNSCRIPTED": Have you started your holiday early, Tony?
HARRIS: Well, maybe I have.
K. DOLAN: No drinking on the job!
HARRIS: Well, good morning to both of you.
K. DOLAN: Hi, Tony. How are you?
HARRIS: I have to spend a couple of moments with you before the big show at the top of the hour.
K. DOLAN: Yes, Tony, we're going to try to do -- one of the things we're going to try to do is answer the question you were asking your audience earlier this morning when we were watching. Is this a good time to make an investment in real estate? Although it's a broad question, we're going to narrow it down, talk specifically about housing, a little about the housing bubble, and how not to get caught in that trap. We'll do that today.
D. DOLAN: But along with other news stories, it is the Memorial Day weekend and it's the kickoff to summer. We're going to take a look at summer books, summer movies. What's wrong with Hollywood these days? Lots of summer stuff as well.
HARRIS: OK, OK, can't wait.
K. DOLAN: Happy Memorial Day, Tony.
HARRIS: And to you. Love the show, love both of you, see you at the top of the hour.
K. DOLAN: Thank you.
D. DOLAN: Back at you.
HARRIS: And that's it for us. Thank you for joining us this Saturday morning. We'll see you again tomorrow morning.
KAYE: "OPEN HOUSE" is straight ahead with more on the hot housing market. How long will it last?
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired May 28, 2005 - 09:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
RANDI KAYE, CNN ANCHOR: In central Indonesia, at least 20 people were killed by a pair of bombs at a crowded market in a mostly Christian town. More than 50 were wounded. Witnesses say the second, more powerful, blast went off after rescuers arrived to help victims of the first explosion.
Early this morning, Atlanta police successfully subdued a murder suspect after two days atop a construction crane. Carl Roland is wanted for the killing of his ex-girlfriend. We'll have a live report on his arrest in just a few minutes.
And, in London, time marches on -- not. The clock in London's famous landmark tower stopped last night for about 90 minutes and then started up again. The clock's engineers are mystified why the 147- year-old timepiece just died and then sprang back to life.
TONY HARRIS, CNN ANCHOR: Change the battery or something?
KAYE: I guess so.
HARRIS: OK, here's what's coming up this hour.
They've learned about war in the classroom; now, many West Point grads may be on the frontlines. We'll have a live report straight ahead.
And, insurgents cause chaos and carnage in Iraq. We'll bring you the latest.
To some, it is a dream. To others, a house of horrors -- a live report on the fluctuating housing market, all coming up.
KAYE: Up first this hour, it's Memorial Day weekend, and while most of us will enjoy time with friends and family, others are taking time out to remember those who died while protecting their country. At Arlington National Cemetery, flags are placed at the graves of the war heroes buried there.
HARRIS: At this hour, graduation ceremonies are underway for the class of 2005 at West Point, the nation's oldest military academy. Many of the troops being commissioned (ph) today will probably face combat soon, either in Iraq or Afghanistan. CNN's Alina Cho is at West Point with more on what's ahead for the cadets. Alina, good morning. ALINA CHO, CORRESPONDENT: Tony, good morning to you, and the highlight of today's ceremony will be a keynote speech by General Richard Myers. He is the chairman of the joint chiefs of staff, of course. He is the principal military adviser to the president.
Today, there are 911 graduates, and upon receiving their diploma, they will each immediately become second lieutenants in the Army. Now, this class of 2005 is important because they began their West Point career just days after 9/11. They had two years to decide whether they wanted to quit West Point, and amazingly, an overwhelming majority -- 77 percent of them -- decided to stay. Now, it wasn't an easy decision. Seven out of 10 of the graduates will likely be deployed to either Iraq or Afghanistan within a year. Twenty-three West Point grads have died since 9/11, and many of the cadets in the past four years have learned a lot about how to make quick decisions in combat.
Today, however, is a day of celebration, as you hear the applause in the background. The cadets behind me are wearing full dress over white, and Tony, many of them have jokingly said that combat will be easier than four years at West Point.
HARRIS: Wow, now, that's a statement. They look great today. Alina, we appreciate it. Thank you.
And, time right now to check out some of the other stories making news "Around the World."
KAYE: There have been twin bombings in Indonesia. For the details on that and some of the other big world news story, let's hand it over to Anand Naidoo at the CNN international desk. Good morning.
ANAND NAIDOO, CNN INTERNATIONAL DESK: Hey, good morning, and thank you. We'll have more on Indonesia later, but first up, the latest on Schapelle Corby. She's the Australian woman sentenced to 20 years in prison for drug smuggling in Indonesia. Indonesia's justice minister will meet with Corby's legal team. They say she was set up by professional smugglers. Intense efforts under way in Australia to get her back. Even the Australian government is getting her involved in this. There is -- one option they're looking at is for Corby to serve her sentence in Australia itself.
Staying with Indonesia, at least 20 people were killed and 57 wounded in a double bombing in an eastern town. The second bomb, the larger of the two, exploded as people rushed to help victims. Hundreds of people have been killed in this particular area in fighting between Christians and Muslims. That fighting there broke out in 1998.
Now Iraq, 16 people killed in three bombings. Back-to-back car blasts in Tikrit killed nine people, and explosions outside an Iraqi- U.S. base near the Syrian border killed seven people. The Iraqi government, meanwhile, has confirmed a Japanese hostage has been killed by his captors. He was in a group ambushed by insurgents west of Baghdad earlier this month. More than 120 foreigners have been held hostage, kidnapped and held hostage, in Iraq since the U.S.-led occupation of that country in 2003. More than 35 of them have been killed, and right now there are 20 of them who are still being held by their captors and among those 20, at least two Americans. That's all for me for now. Back to Randi and Tony.
HARRIS: Anand, thank you.
KAYE: Back on the ground and finally in custody, just after midnight. Atlanta police tasered and subdued a murder suspect who'd spent more than two days perched high atop a construction crane. Let's go right to the scene and Catherine Callaway.
CATHERINE CALLAWAY, CORRESPONDENT: Good morning, Randi.
Yes, Peachtree (ph) Street here in Buckhead is back open to traffic after being virtually shut down for some 57 hours. About 12:30 Eastern time this morning, 41-year-old Carl Roland agreed to accept some water from the chief negotiator on top of that crane. At that time, as you said, he was tackled. He was then tasered once by the S.W.A.T. team, but it was a very long process getting him to the ground after he was subdued. He was wrapped in blankets. He was strapped to a backboard, and then he was hoisted vertically down 350 feet to the bottom. It was, as I said, a long process. A lot of officers stuck inside that crane making sure he made it down safely, and he did.
He was then taken to Grady Hospital, where he was treated and is still being treated, as far as we know, for dehydration and exhaustion. He will then be transferred to the Fulton County jail, where he will be held because Pinellas County authorities are interested in him in connection with the murder of his ex-girlfriend, 36-year-old Jennifer Gonzalez. Gonzalez was found beaten and strangled to death, floating in a retention pond behind her home in Pinellas County, Florida.
Authorities expecting to extradite him back to Florida. They are in Atlanta at this time, and Atlanta authorities are looking at the possibility of lodging some charges against Carl Roland. At this point, they're not saying what those charges will be. Back to you.
KAYE: All right. Catherine Callaway, thank you for the live report.
HARRIS: Real estate is on the rise, but some are worried the housing bubble just might burst. How to protect yourself, that is coming up.
KAYE: Plus, our e-mail question this morning. Is real estate a good investment right now? Send us your thoughts to weekends@CNN.com.
HARRIS: And good morning, Philadelphia. Rob Marciano is just ahead with your Memorial Day forecast. Stay with us. More CNN SATURDAY MORNING when we come right back.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: Lawrence Douglas Wilder has earned a reputation exploring uncharted territory politically, as well as racially. He graduated from the private all-black Virginia Union University after being turned away from all white schools in his native Virginia.
Doug Wilder went on to become a celebrated criminal lawyer, state senator, lieutenant governor, and in 1990, the first black governor ever elected in the U.S.
DOUGLAS WILDER: The people of Virginia have spoken tonight!
UNIDENTIFIED FEMALE: To demonstrate distaste for the state's history of slavery, Wilder chose to take the oath of office outside Virginia's capitol, a building that had served as the Confederate capital during the civil war.
Now, at 74, he's beginning a new phase of public service. Last November, following a historic change in the city charter, he became the first mayor elected by the people rather than the council, in his hometown Richmond.
WILDER: What is it that we are to do, and who are you there for? You're there to represent the people.
UNIDENTIFIED FEMALE: Today, Mayor Doug Wilder is a common sight on the streets of Richmond, and Virginia Commonwealth University, where he teaches political science.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
KAYE: In a market where housing is booming and mortgage rates are low, a million-dollar dream home could become a reality.
UNIDENTIFIED MALE: Beautiful granite countertops and as you can see, gourmet Wolf range with hood.
KAYE: So, what does a million bucks buy? Found out tomorrow at 7:00 a.m. Eastern on CNN "SUNDAY MORNING."
UNIDENTIFIED MALE: Brigadier General Mike Scaparotti (ph), commandant of the corps of cadets. Brigadier General Dan Kaufman (ph), dean of the academic board. Ladies and gentlemen...
(COMMERCIAL BREAK)
HARRIS: Throughout the weekend, CNN peers into the so-called housing bubble. That's when a red-hot housing market like we're currently seeing can eventually see a dramatic drop in demand and value. CNN personal finance editor Gerri Willis has her top five trips of knowing when to buy, sell action or sit on the sidelines. Gerri, we need to do good work so folks know where they are in this particular cycle that we're in, OK? GERRI WILLIS, CNN PERSONAL FINANCE EDITOR: That's right, Tony. You betcha.
HARRIS: All right, so, sitting on the sidelines? Maybe that's the place to start. You say one of your tips is to stay put? Explain that, Gerri.
WILLIS: Well, listen to this. If you already own your own home...
HARRIS: Yes?
WILLIS: ...and you're fearful that prices are going to go down, or maybe you're in one of the few markets where prices actually have come down, here's what you need to do: stay put. Here's why. Prices typically don't go down for a very long period of time. You can ride out any downturn, and then prices will begin to rise again.
Look, houses don't reprice like stocks every 30 minutes. They price very slowly, and what's more likely to happen in your market than an actual downturn in prices, is that the market just slows down. Prices don't change at all. You have no appreciation. That's more likely. So, if you're in your house now, you're best off just staying put.
HARRIS: OK, smart, smart. You also advise, don't overpay, and that makes good sense.
WILLIS: Yes, you bet. If you're trying to buy a house right now, you have got to pay particular attention to what the pros call comps, that is, comparables, homes that have sold in the neighborhood that you're looking in. Take a look at the price per square foot. Now, compare that to the price per square foot you'd be paying in this new house and make sure you're not overpaying in terms of the houses that are selling right now. You've got to do the math, and your realtor can help you do that. That's what you're paying them for.
HARRIS: OK. Beware of risky mortgages.
WILLIS: Tony, I'm telling you, there is so much innovation in the mortgage business right now, and some of these products, not my favorites, I've got to say. The interest-only mortgage. This gives you the option of paying only interest, not your principal. So, you're just paying that money you're paying to the bank without reducing what you actually owe for the house itself, without developing equity. Now, if prices were to decline and you had never paid down any equity, you could end up owing more than the house is worth in a big way, and that's not a good situation to be in. So, I say stay away from those interest only mortgages right now.
HARRIS: Yes, and a lot of people enter those kind of deals if they're looking to flip the house to resell it right away. Is that why they enter those kind of deals in a lot of cases?
WILLIS: You know, that can happen, but in a market that might slow down, flipping can be a tough strategy because you can't predict what it's going to look like in the three-to-six months it takes you to turn that house around.
HARRIS: Gerri, evaluate correctly.
WILLIS: That's right. You know, you've got to do the math again. What I'm talking about here is looking at days-on-market. That's what the pros call it. How long does it take to sell a house? So, if it typically takes a month to sell a house and suddenly you see that number double, this could be a sign that the market's getting into some trouble. So, that's a little benchmark or rule of thumb if you're trying to figure out what's going on.
HARRIS: And Gerri, your final tip here is get the context.
WILLIS: Yes, baby. You know, nobody ever talks about bubbles bursting, what's happened in the past. We all talk about, you know, just the fear factor, what if prices go down? Well, let's look at one of those markets where prices actually went down, in Boston. We're looking at the middle of the '80s. Prices went up 157 percent, as you can see right here. That was the boom. Now, the bust? Down 15 percent in just three years.
So, as you can see, the boom went on for a really long time, the bust very short and not as intense. So, if you're holding on to your house for any period of time at all, it probably didn't make a lot of difference to you. You probably had gains anyway.
HARRIS: Yes, good stuff, Gerri.
All right, give us a couple lines. Preview the big "OPEN HOUSE" show coming up at the top of the hour.
WILLIS: Yes, you've got to watch. We're talking about this whole boom/bust cycle. What can you expect? What do you want to know? We've got a couple of experts on talking about their outlooks. You want to pay attention to that, and then, Tony, container gardening. You've got to see this just beautiful story we're telling with Allen Smith, who's a gardening expert. You'll love it. The pictures are beautiful.
HARRIS: Wonderful, wonderful.
WILLIS: And maybe you can do a container garden.
HARRIS: Oh, please, now you go too far. Gerri, good to see you. We'll see you at the bottom of the hour with "OPEN HOUSE."
WILLIS: Thank you, Tony.
HARRIS: Appreciate it. Thanks for your time. Randi?
KAYE: Thanks for watching CNN SATURDAY MORNING. I'm Randi Kaye. Time to check our "Top Stories" this morning.
A tragic end to a hostage standoff in Iraq. Iraqi and Japanese officials believe insurgents have killed a Japanese man they abducted earlier this month. The man worked for a British security company. In northwestern Iraq this morning, a deadly bombing attack outside a joint U.S.-Iraqi military base in the town of Sinjar. At least 7 Iraqis are dead, and 35 others are wounded.
And, back in the U.S., a 57-hour standoff 25 stories in the air is over. Early this morning, Atlanta police captured a man who spent the past two-and-a-half days perched on top of a crane. Carl Roland is wanted in Florida in his ex-girlfriend's beating death.
HARRIS: CNN.com is always a lively spot to get your fill of the day's news. Veronica de la Cruz of the dotcom desk is here to tell us what's attracting the most interest this morning. Good to see you, Veronica.
VERONICA DE LA CRUZ, CORRESPONDENT: You again?
HARRIS: It's me all day.
CRUZ: I'm totally kidding, Tony.
All right, let's get to the most popular stories, shall we? Well, to find them, go to our main page and click on the icon most popular. That's on the right hand side of your screen. Also, you can type in CNN.com/mostpopular, and that list is updated every 20 minutes.
So, what are the hottest stories on the web right now? A judge has ordered a Tennessee senator to be placed on house arrest even after objections from prosecutors that he serve time in jail. This, after they watched a video of Senator John Ford accepting a $10,000 payoff and listening to an audiotape in which he threatened to kill a witness, Tony.
Also hot on CNN.com, do you ever visit a search engine online and get frustrated because all you get are these web links in return? Well, AskJeeves is trying to fix all that with a new service called web answer. Along with those links to other sites, they will also provide the answer to your search question. So, for example, if you are asking, what is the world's largest lake? They would give you the answer, Caspian Sea, along with the size and location, because all you do get are links to other sites, and people want the answer.
HARRIS: Yes, that's right. You want the answer. You don't want to be moved on, moved on down the road. OK, good to see you, Veronica.
CRUZ: Nice to see you.
HARRIS: Thank you.
We're going to take a break and come back with more of CNN SATURDAY MORNING. You're taking a live look at the skyline of Philadelphia. Rob Marciano, back in just a couple of minutes with the Memorial Day forecast for Philadelphia and the rest of the nation. We'll be right back.
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HARRIS: Commencement exercises under way at West Point in New York. You're listening now and seeing pictures there of the chairman of the joint chiefs, Richard Myers. Let's listen in.
GEN. RICHARD MYERS, CHMN, JOINT CHIEFS: As you know, one of those graduates, your dean, General Dan Kaufman, will retire this summer after 37 years of service. From the jungles of Vietnam to the National Security Council staff to presidential transition teams and 22 years at West Point, Dan, you symbolize the ideals embodied in this academy, and we thank you very, very much for your great service.
To all the parents, I know this is a very proud day. Four years ago, you dropped off your sons and daughters, and you were so proud, as you should have been, of these up-and-coming standouts, full of hope and full of promise. So today, the process is complete, and I think they stand a little taller with the confidence and pride that can only come after completing a demanding journey. Their success was due in no small part to the values they learned at home and the support you provided during these past four years. So, just the graduates, if you'd join me in a round of applause for your friends and family who have done so much to make this day possible.
To the staff and faculty who have played the important role of training and educating and mentoring and supporting the graduates, this day obviously wouldn't have been possible without your truly dedicated efforts. I know many of you have returned from Iraq and Afghanistan and shared your experiences in both training and in the classroom, and we see the results of your efforts here before us. You have done your job well, and the nation thanks you, also.
To the international graduates -- cadets who graduate today, we value your friendship. We look forward to serving with you in the future, and we wish you continued success as you return to serve your nations. Keeping...
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MYERS: Thank you. That's appropriate.
Keeping freedom alive. You know, we actually have a lot in common. After 40 years in uniform, I'm about to begin a new adventure in my life, and you're about to begin a new career. But I got to tell you, during my tenure at the Pentagon, we designed and built a new fitness center, and it's open. I understand that's not quite the case for you all.
Actually, our common bond runs much deeper, and it's the tragic events of 9/11 that unite -- unite us. My term as chairman began just a few short weeks after 9/11, and, of course, you were just a few short weeks into your first academic year. I bet you can still remember that day for lots of reasons, not only 9/11 but wondering where all those upperclassmen came from all of a sudden. And I'm sure those events shaped every day of your past four years and gave you a clear sense of purpose and a heightened sense of resolve -- 9/11, in fact, changed the entire world, and we are now in a struggle against violent extremism who want to end our way of life.
This war we're engaged in is actually about two opposite and incompatible visions for the world -- tolerance, democracy, freedom, justice, and hope on the one hand, versus intolerance, repression, violence, and fear on the other. Our nation is at war, and I know this has been brought home to you, as on many days you've heard announcements of the fallen or injured of past West Point classes who were bravely doing their duty. They faced an enemy who seeks to destroy our society, an enemy that has no tolerance for individual freedoms or the free expression of ideas. They view their -- the values that we represent as a threat and their weapon of choice is fear. They know absolutely no limits, be they territorial or moral. So, that's why failure is not an option and we will not fail.
HARRIS: Chairman of the Joint Chiefs Richard Myers, the commencement day speaker at West Point in New York. Many of the cadets, 900 in all, will probably face combat in short time here, in either Afghanistan or Iraq. Once again, Chairman of the Joint Chiefs Richard Myers at West Point, commencement day speaker there, talking about the nation at war, fighting an enemy that the chairman describes as intolerant. We'll be back with more after this quick break.
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HARRIS: To New York City now. When you squeeze those letters, to New York, it's Tony.
KEN DOLAN, CO-HOST "DOLANS UNSCRIPTED": Oh, man. Oh, boy. That's just lame, Tony.
DARIA DOLAN, CO-HOST, "DOLANS UNSCRIPTED": Have you started your holiday early, Tony?
HARRIS: Well, maybe I have.
K. DOLAN: No drinking on the job!
HARRIS: Well, good morning to both of you.
K. DOLAN: Hi, Tony. How are you?
HARRIS: I have to spend a couple of moments with you before the big show at the top of the hour.
K. DOLAN: Yes, Tony, we're going to try to do -- one of the things we're going to try to do is answer the question you were asking your audience earlier this morning when we were watching. Is this a good time to make an investment in real estate? Although it's a broad question, we're going to narrow it down, talk specifically about housing, a little about the housing bubble, and how not to get caught in that trap. We'll do that today.
D. DOLAN: But along with other news stories, it is the Memorial Day weekend and it's the kickoff to summer. We're going to take a look at summer books, summer movies. What's wrong with Hollywood these days? Lots of summer stuff as well.
HARRIS: OK, OK, can't wait.
K. DOLAN: Happy Memorial Day, Tony.
HARRIS: And to you. Love the show, love both of you, see you at the top of the hour.
K. DOLAN: Thank you.
D. DOLAN: Back at you.
HARRIS: And that's it for us. Thank you for joining us this Saturday morning. We'll see you again tomorrow morning.
KAYE: "OPEN HOUSE" is straight ahead with more on the hot housing market. How long will it last?
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